KSE rallies amid profit bagging in past week

GMT
17:35 2014
Saturday ,16
August

Kuwait Stock Exchange (KSE)

Kuwait - KUNA

Kuwait Stock Exchange (KSE) posted successive rises in most of the past week sessions, buoyed by noticeable traders' activity, Al-Oula brokerage company said in a report released on Saturday.
The KSE maintained the bullish trend till the last session, where the benchmark posted slight fall, due to consecutive corporate profit generation. The price index read 7,234, losing 115 points, while the weighted index and Kuwait 15 index increased, 0.33 and 077 percent, respectively.
Leading operational stocks dominated most of the past week trades, signaling a mounting number of traders who apparently opted to be oblivious to domestic events.
Mounting corporate declarations for the year's second half gave a boost to positive activity namely among the companies and the banks. Expiry of the legal duration for companies to disclose their financial statements for the year's second quarter prompted investors to be vigilant.
Agility stock rose at the opening session, 1.2 percent, after it declared a 12.2 percent rise of the Q2 net profits. Its shares continued to rally throughout the week, thus boosting the Kuwait 15 index.
Petrogulf stock rose 4.8 percent at the week's opening session, along with hike of its trades, the highest since January. Americana share rose 2.6 percent after the Saudi Savola group divulged acquisition talks.